TIDMSIA

RNS Number : 7798I

Soco International PLC

23 March 2018

23 March 2018

SOCO International plc

('SOCO' or 'the Company')

DIRECTOR/PDMR SHAREHOLDING

Notification of Transactions of Director

The Company announces that on 22 March 2018, Ed Story, the Chief Executive Officer of the Company became interested in a total of 357,363 SOCO International plc ordinary shares of GBP0.05 each ("Shares") after the vesting of contingent awards over 521,557 Shares ("Awards") under the Company's Deferred Share Bonus Plan ("DSBP").

The Board had determined that, in this instance, it serves the best interest of the Company and its shareholders, and with the agreement of Mr Story, to deliver only the net number of Shares after deducting the number of Shares that otherwise would be sold in the market to settle the tax liabilities associated with the settlement of these Awards. Therefore, no Shares will be sold and the associated tax liabilities will be settled by the Company.

Further details of the number of Shares referenced in the above are shown in the following table:

 
 Name                                        Ed Story 
------------------------------------------  --------- 
 Date of original grant                      8 Jan 16 
------------------------------------------  --------- 
 Awards vested                                521,557 
------------------------------------------  --------- 
 Shares to be deducted for associated tax     164,194 
------------------------------------------  --------- 
 Shares to be delivered to Ed Story           357,363 
------------------------------------------  ---------

Following these transactions, interests held are as follows:

Ed Story is interested in 14,073,747 Shares, representing 4.24% of the issued share capital of the Company (excluding treasury shares), of which 12,398,747 (3.74%) Shares are held personally by Ed Story and 1,675,000 (0.50%) Shares are held through The Story Family Trust, a closely associated person to Ed Story.

Contact:

Tony Hunter, Company Secretary, SOCO International plc, tel. +44 20 7603 1515

 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ----------------------------------------------------------- 
 a)   Name                       Ed Story 
---  -------------------------  -------------------------------- 
 2    Reason for the notification 
---  ----------------------------------------------------------- 
 a)   Position/status            CEO/Director 
---  -------------------------  -------------------------------- 
 b)   Initial notification       Initial notification 
       /Amendment 
---  -------------------------  -------------------------------- 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ----------------------------------------------------------- 
 a)   Name                       SOCO International plc 
---  -------------------------  -------------------------------- 
 b)   LEI                        549300DDKLXYLLO4N524 
---  -------------------------  -------------------------------- 
 4    Details of the transaction(s): section to 
       be repeated for (i) each type of instrument; 
       (ii) each type of transaction; (iii) each 
       date; and (iv) each place where transactions 
       have been conducted 
---  ----------------------------------------------------------- 
 a)   Description of             Ordinary Shares of GBP0.05 
       the financial              Each 
       instrument, type 
       of instrument              GB00B572ZV91 
       Identification 
       code 
---  -------------------------  -------------------------------- 
 b)   Nature of the              Acquisition of shares following 
       transaction                settlement of share awards 
                                  under the Company's Deferred 
                                  Share Bonus Plan. 
---  -------------------------  -------------------------------- 
 c)   Price(s) and volume(s)       Price(s)   Volume(s) 
                                   ---------  ---------- 
                                    0          357,363 
                                   ---------  ---------- 
---  -------------------------  -------------------------------- 
 d)   Aggregated information 
       - Aggregated volume         357,363 
       - Price                     Nil 
---  -------------------------  -------------------------------- 
 e)   Date of the transaction    22/03/2018 
---  -------------------------  -------------------------------- 
 f)   Place of the transaction   Outside of a trading venue 
---  -------------------------  --------------------------------

This information is provided by RNS

The company news service from the London Stock Exchange

END

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March 23, 2018 07:46 ET (11:46 GMT)

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